Whales with a lot of money to spend have taken a noticeably bullish stance on Spotify Technology.
Looking at options history for Spotify Technology SPOT we detected 15 trades.
If we consider the specifics of each trade, it is accurate to state that 53% of the investors opened trades with bullish expectations and 20% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $323,585 and 10, calls, for a total amount of $574,490.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $200.0 to $360.0 for Spotify Technology over the recent three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Spotify Technology's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Spotify Technology's whale activity within a strike price range from $200.0 to $360.0 in the last 30 days.
Spotify Technology Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SPOT | PUT | TRADE | BULLISH | 01/16/26 | $36.0 | $31.0 | $31.0 | $250.00 | $155.0K | 271 | 50 |
| SPOT | CALL | SWEEP | NEUTRAL | 01/16/26 | $149.0 | $141.0 | $144.5 | $200.00 | $115.9K | 56 | 0 |
| SPOT | CALL | TRADE | BEARISH | 09/20/24 | $16.5 | $16.0 | $16.0 | $330.00 | $113.6K | 1.0K | 74 |
| SPOT | CALL | TRADE | BULLISH | 01/16/26 | $84.0 | $81.0 | $84.0 | $300.00 | $84.0K | 599 | 40 |
| SPOT | PUT | TRADE | NEUTRAL | 01/17/25 | $37.3 | $36.65 | $37.0 | $320.00 | $74.0K | 450 | 20 |
About Spotify Technology
Spotify, headquartered in Stockholm, Sweden, is one of the world's largest music streaming service providers, with 602 million monthly active users at the end of 2023. The firm monetizes its users through a paid subscription model, referred to as its premium service, and an ad-based model, referred to as its ad-supported service. Revenue from premium and ad-supported services represented 86% and 14% of Spotify's 2023 total revenue, respectively.
In light of the recent options history for Spotify Technology, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Spotify Technology Standing Right Now?
- With a volume of 1,206,605, the price of SPOT is down -4.14% at $317.15.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 78 days.
What The Experts Say On Spotify Technology
5 market experts have recently issued ratings for this stock, with a consensus target price of $376.0.
- An analyst from Morgan Stanley persists with their Overweight rating on Spotify Technology, maintaining a target price of $400.
- Maintaining their stance, an analyst from UBS continues to hold a Buy rating for Spotify Technology, targeting a price of $400.
- Consistent in their evaluation, an analyst from Benchmark keeps a Buy rating on Spotify Technology with a target price of $430.
- Reflecting concerns, an analyst from Redburn Atlantic lowers its rating to Sell with a new price target of $230.
- An analyst from Guggenheim has decided to maintain their Buy rating on Spotify Technology, which currently sits at a price target of $420.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Spotify Technology with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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